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Use the figure to answer to answer the following  8  questions . The...

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Use the figure to answer to answer the following 8 questions.

The figure above shows demand and marginal revenue for a single price monopoly.

At any price above $ demand is elastic.

Assume production costs are constant and equal to $450.00 (i.e., AC = MC = $450).

 1)  Output is units per day at a price of $ per unit.

 2)  Profit is $ .

 3)  Consumer surplus is $ .

 4)  If this market was perfectly competitive, output would exceed the single-price monopoly output by units.

Assume this is a perfectly price discriminating monopoly at a constant cost equal to $225.00 (i.e., AC = MC = $225).

 5)  The lowest price charged per unit is $ .

 6)  Output is .

 7)  Profit is $ .

 8)  Consumer surplus is $ .

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